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(dollars in thousands)
<br />December 31, 2010
<br />Loans and Past due 90
<br />leases on days or
<br />30 - 89 days More than Total loans nonaccrual more but still
<br />Current past due 90 days and leases status accruing
<br />Commercial:
<br />Commercial and industrial $ 6,398,455 $ 49,378 $148,204 $ 6,596,037 $ 250,543 $15,127
<br />Commercial real estate 8,820,776 135,674 392,610 9,349,060 603,417 23,483
<br />Construction 820,476 49,379 149,759 1,019,614 258,990 7,648
<br />Equipment leases 2,309,821 24,326 30,051 2,364,198 57,650 -
<br />Agriculture 1,797,118 25,431 61,318 1,883,867 91,714 994
<br />Consumer:
<br />Installments and lines 10,447,563 137,219 14,508 10,599,290 13,536 972
<br />Residential secured- closed -end 8,558,994 164,937 182,938 8,906,869 200,433 724
<br />Residential secured- revolving,
<br />open-end 2,258,386 22,271 8,128 2,288,785 8,128
<br />Total 541,411,589 $608,615 5987,516 $43,007,720 $1,484,411 $48,948
<br />6. Premises and Equipment
<br />At December 31, 2011 and 2010, premises and equipment were comprised of the following:
<br />(dollars in thousands)
<br />2011 2010
<br />Premises $696,611 $692,687
<br />Equipment") 264,307 262,176
<br />Total premises and equipment
<br />Less accumulated depreciation and amortization
<br />Net book value
<br />960,918 954,863
<br />509,883 508,394
<br />$451,035 $446,469
<br />(I) Includes in process equipment not subject to depreciation of $7.4 million and $10.1 million at December 31, 2011 and
<br />2010, respectively.
<br />Occupancy and equipment expenses include depreciation and amortization expenses of $52.1 million
<br />and $56.0 million for 2011 and 2010, respectively.
<br />The Bank is obligated under a number of capital and noncancelable operating leases for premises and
<br />equipment with terms, including renewal options, up to 50 years, many of which provide for periodic
<br />adjustment of rentals based on changes in various economic indicators. Under the premises leases, we are
<br />also required to pay real property taxes, insurance and maintenance. The following table shows future
<br />minimum payments under leases with terms in excess of one year as of December 31, 2011:
<br />Less Net
<br />Capital Operating Sublease Lease
<br />(dollars in thousands) Leases Leases Income Payments
<br />2012 $ 1,479 $ 63,645 $ 3,819 $ 61,305
<br />2013 1,501 60,187 2,987 58,701
<br />2014 1,546 52,531 2,165 51,912
<br />2015 1,514 45,442 969 45,987
<br />2016 1,437 40,878 531 41,784
<br />2017 and thereafter 14,736 199,103 299 213,540
<br />Total minimum payments $22,213 $461,786 $10,770 $473,229
<br />Less interest on capital leases 11,515
<br />Total principal payable on capital leases") $10,698
<br />(') Excludes purchase accounting adjustments of $5.0 million.
<br />The table above includes operating leases for approximately 326,000 square feet of administrative
<br />office space in San Ramon, CA with a monthly expense of $0.7 million. The Bank started recognizing
<br />expense in November 2010. The lease agreements extend through December 31, 2025 and were entered
<br />into to consolidate multiple back offices from other nearby locations.
<br />Rental expense, net of rental income, for all operating leases was $63.4 million and $61.4 million for
<br />2011 and 2010, respectively.
<br />-30-
<br />2011 Bank of the West Annual Report
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